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Sri Lankan govt restarts search for buyer for SriLankan Airlines

The Sri Lankan government is again seeking a buyer for the debt-ridden national carrier, SriLankan Airlines, Bloomberg reports.

Sri Lanka’s Finance Ministry will seek preliminary bids for the airline, which has at least $1 billion USD of debt, by September or October.

The move comes a year after talks with sole bidder TPG Capital collapsed.

According to its annual report the company’s accumulated losses stood at $879 million USD as of March 2017.